Decoding MiM: What You Need to Know Before Pursuing a Master’s in Management

The Master in Management (MiM) is a relatively new programme. It can be pursued by fresh undergraduates with academic backgrounds outside of management with less than two years of experience, making it a competitive alternative to the traditional MBA. According to the latest GMAC Applications Trends Survey, the European Master in Management programmes attracted 83 percent of international students. In contrast, the rate for MiM programmes in the US stood at 49 percent. This blog will provide valuable insights into what a Master in Management entails and why you should contemplate pursuing this degree.

What is a Master’s in Management

A Master in Management (MiM) is a postgraduate programme that imparts comprehensive business management skills. It is also known as “Master’s of Science in Management” or “Masters in International Management”, depending on the region and country. For instance, the University of Manchester and the National University of Singapore offer a one-year MSc in Management, providing a rapid entry into business for individuals without prior experience and encompassing essential management areas like innovation, entrepreneurship, finance, marketing, organisational change, and human resources.

While MiM is prevalent in the UK and Europe, fewer universities in the US offer this degree. According to Oliver Ashby, programme director of the LBS MiM, this programme is popular in Europe because institutions there can showcase significant diversity across both students and faculty.

In the UK and Europe, the MiM programme is tailored to elaborating on business management through theoretical concepts, internships, and intense curricula. In the US, the programme teaches leadership and management skills through an action-based curriculum. 

MiM is generally offered to fresh graduates or those with less than two years of experience. Applicants with over two years of work experience are typically considered overqualified. There are a few exceptions to this rule, though. For example, the Australian National University admits applicants with three years of work experience. Another key feature of this degree is that it is also open to applicants who do not have an undergraduate degree in management. The cohort includes students from business and non-management backgrounds like engineering, social sciences, pure sciences and humanities, 

What can you expect from a Master’s in Management curriculum?

The MiM curriculum worldwide typically covers core business subjects such as Finance, Accounting, Managerial Economics, Organizational Behavior, Marketing, Business Strategy, Business Ethics, and Human Resources. However, each university has its variations. Therefore, the applicants must research the curriculum carefully to understand whether the modules offered and the specialisation offered align with their goals.

Take, for instance, London Business School’s Masters in Analytics and Management and the 10-month Master of Quantitative Management by Duke Fuqua School of Business. While their curricula resemble business analytics programmes, they strongly emphasise general management as part of their core. 

Programmes like the MSc in Management at the Imperial College Business School London and the INSEAD Master in Management combine practical learning, research, case studies, simulations, and consulting projects, preparing students to critically understand fundamental business in a dynamic and rapidly changing modern marketplace. 

While Northeastern University offers a Master’s in International Management, New York University has a Master’s in Management and Systems. On the other hand, Chicago Booth’s Master’s in Management programme lets you personalise your studies by choosing four courses from five specialisation areas: Finance, Strategic Management, Analytics, Marketing, or Entrepreneurship. Each specialisation provides numerous course options. For example, Entrepreneurship offers 13 courses, such as New Venture Strategy and Impact Investing. Analytics includes a dozen choices, like Big Data, Machine Learning, Data-Driven Marketing, and Healthcare Analytics.

In Europe, HEC Paris and IE University offer the option of enrolling in dual degree MiM programmes in collaboration with renowned universities worldwide, fostering analytical skills and a global mindset in fields like Management, Data Science, Law, and Public Affairs. 

The Global Masters in Management degree is a widely favoured programme. Typically, students spend the first year studying at one business school campus and then transition to another business school located in a different country for the second year. Most Global Master in Management (MiM) programmes are affiliated with business schools part of a global consortium known as CEMS. A collaboration between top-tier business schools, multinational corporations (MNCs), and non-governmental organisations (NGOs), CEMS offers a special globalised management education. The exception is the Global Master’s in Management programme at the London Business School. Despite not being affiliated with CEMS, it maintains a strong reputation as a competitive programme. 

Where should you pursue a Master’s in Management? 

Many top global universities offer MiM programmes. When deciding where to pursue your Master’s in Management, it’s crucial to consider multiple criteria, including cost, job prospects, and programme quality. Here is a list of eight global colleges renowned for their MiM programmes:

1) HEC Paris, France

The Master’s in Management degree at HEC Paris is an 18-month programme that perfectly balances theory and practice. The curriculum is enriched with practical components, including fact projects, consulting projects, live case studies, and conferences. 

Students also benefit from a unique dual-phase curriculum. M1: The General Management Phase comprises courses in general management, including Marketing Science, Corporate Finance, Ethics and Sustainability and a compulsory French course. Electives are also offered in this phase. 

Before commencing M2: The Specialisation Phase, students can take an optional gap year to enhance their resumes with a professional or personal project. During the M2 phase, they can choose from 20 Majors. Additionally, as part of this phase, the school offers exchange programmes in International Business with partner universities worldwide. Students can also earn the CEMS Master in International Management diploma alongside the HEC MiM degree. This diploma can be a valuable asset, particularly if you aspire to pursue an international career in management.

HEC Paris’ MiM graduates have a remarkable 100 percent employment rate, securing positions in companies such as Capgemini, KPMG, L’Oreal, LVMH, McKinsey & Company, Amazon, Barclays, Citibank, Deloitte, Goldman Sachs and J.P. Morgan, among others. 

2)University of St. Gallen, Switzerland

The University of St. Gallen’s 18-month Master in Strategy and International Management (SIM) programme offers a blend of academic rigour and practical MBA-style learning, offering outstanding management education. SIM strongly emphasises practical knowledge and international exposure through close collaborations with global corporate sponsors, providing workshops, lectures, site visits, and internships. 

The SIM curriculum comprises the completion of  90 ECTS credits, encompassing a thesis and an international internship.  Key components of the programme include: 

• SIMagination Challenge: Students independently plan, fundraise, and execute an international social initiative to create a positive and sustainable impact on society.
• SIM International Project: a mandatory international internship that equips students with the skills and experience to address complex global problems before graduation.

Collaborations with over  200 universities worldwide allow students to pursue a dual degree. For instance, they can earn an MBA at Nanyang Business School (NBS) in Singapore and the SIM Master’s degree at the University of St.Gallen, gaining both Asian and European perspectives on business.

The University of St. Gallens also offers the CEMS Master in International Management Programme. This prestigious degree is accessible to multilingual students enrolled in CEMS member universities. Bocconi University (Italy), the National University of Singapore (Singapore), the University of St. Gallen (Switzerland), the London School of Economics and Political Science (UK), and Cornell SC Johnson College of Business (US) are some of the partner universities. 

This university’s alumni thrive in consulting, finance, industry, and entrepreneurship, propelled by the programme’s robust reputation and the nurturing community. Many SIM students from the University of St. Gallen secure multiple job offers before graduation, often from prestigious firms like Adidas, Bain & Company, and Deutsche Bank.

3) London Business School (LBS), UK

The London Business School offers three distinct management programmes. 

Its Masters in Management is a 12-16 month programme offering a solid business theory foundation. This programme equips students with vital business knowledge, adaptability, a global outlook, and practical skills to excel in business. It has three terms, with an optional fourth term that offers flexibility through choices like a summer internship, international exchange, or elective courses.

The school’s Global Master’s in Management programme is a two-year programme. Students study at London Business School for the first year and the School of Management, Fudan University in Shanghai in their second year, allowing them to explore European and Asian economies. At the end of two years, students earn two degrees, one from each university. 

The Masters in Analytics and Management is a 12-16-month programme that combines detailed data analytics knowledge with solid business acumen. It explores wide-ranging subjects like Data Visualization, Machine Learning, and AI.

Hands-on project work like LondonLAB, Global Experience courses and Global Immersion Field Trips to crucial international business hubs such as Silicon Valley, Beijing, Cape Town, Medellin, Tel Aviv, and Kathmandu complement all three programmes. 

4) ESCP Business School  – France

The Master in Management (MiM) programme at ESCP Business School typically spans two years. It provides students with a comprehensive education in management and prepares them for an international career. Students can study at one of six European campuses, including Berlin, London, Madrid, Paris, Turin, and Warsaw. 

With a focus on experiential learning,  the first year covers core intercultural management courses, including Corporate Finance, European Business Law and Taxation, Economics, Human Resource Management, International Marketing, Operations Management, and Strategy. In the second year, students choose one or two specialisations. With over 60 specialisations, students develop expertise in specific business functions and industry sectors.

Students attend five thematic seminars alongside core courses, electives, and specialisations. For example, the ‘Design Europe’ seminar involves a unique experience where students engage in role-playing negotiations, simulating the activities of the European Parliament. It also includes visiting the European Parliament in Strasbourg, enhancing students’ understanding of European business dynamics.

ESCP MiM students can take a second degree with one of the 40 dual-degree partners, such as MIT, Purdue Univesity, London Business School, or Imperial College. All students must undertake at least two work placements lasting at least two months each. On average, they gain 64 weeks (equivalent to 16 months) of work experience before graduation. The good news: 99 percent of students from ESCP Business School find jobs with organisations like BCG, Deloitte, Amazon, Accenture, Bain & Company, Roland Berger, McKinsey & Company, and Société Générale.

5) ESSEC Business School, France

ESSEC Business School’s Master in Management is an 18-month programme renowned for its double degree partnership and robust apprenticeship initiative. According to Emmanuelle LE NAGARD, Academic Director of the Master in Management (MiM), the ESSEC Grande École programme is renowned as one of the world’s oldest and most prestigious management programmes. 

The programme provides two tracks: the Flexible track, which typically spans two years, and the Intensive track, which takes one year to complete. You also have the option to start at either the ESSEC France campus in Cergy or the ESSEC Asia-Pacific campus in Singapore.  

The university offers 11 double degree programmes where students spend one or two semesters at one of its 105 partner universities in 36 countries. For instance, ESSEC and Carnegie Mellon offer a two-year dual degree programme (MiM from ESSEC and MSBA from Tepper School of Business). Another collaboration with UC Berkeley allows for a dual degree (ESSEC MiM and UC Berkeley Master of Engineering), open to scientific students after ESSEC MiM.

ESSEC strongly emphasises practical experiences and career support. iMagination Week is an initiative that promotes cultural diversity, fosters visionary thinking, raises awareness of challenges, and develops vital skills like creativity, collaboration, critical thinking, and curiosity among students. 

The Master in Management ESSEC Grande École programme has an impressive track record, with 99 percent of the 2021 cohort securing employment within six months of graduation at renowned companies such as Accenture, Google, Deloitte, McKinsey & Company, Philips, GlaxoSmithKline, and Goldman Sachs.

6) Kellogg School of Management, US

Kellogg’s Master in Management programme builds on a student’s undergraduate education by adding core business management skills. Designed for recent graduates in STEM, economics, or liberal arts, this 10-month programme integrates academic rigour with real-world practicality, emphasising collaborative learning. 

MiM students can engage in Kellogg’s distinctive Global Initiatives in Management (GIM) course, which involves travel to a foreign market to explore its business dynamics, challenges, and achievements. Each GIM class spends up to ten days in-country during spring break.

The top 25 percent of MiM graduates can opt for automatic deferred acceptance into the prestigious Kellogg One-Year MBA programme.

The 2022 cohort of MiM graduates achieved a 97 percent employment rate within three months of graduation, with graduates securing positions at organisations such as Accenture, Deloitte, Dropbox, Google, IBM, and Johnson & Johnson.

7)  Michigan Ross, US

The Master of Management at Michigan Ross is an intensive 10-month programme for recent non-business college graduates. It offers students business insights, practical skills, and leadership training needed to stand out in a competitive job market. The programme offers graduate-level coursework with online activities, assessments, and resources. These include professional development (career exploration, resume work, developing a narrative), analytical skills practice (quantitative foundations), and problem-solving exercises.

The programme is divided into three terms. The Summer Term begins with workshops introducing key functional business areas, followed by core finance, accounting, marketing, and business communications courses. The Fall Term Continue builds on the knowledge acquired in the summer with courses in strategy, business statistics, economics, and organisations. The winter term rounds out the degree with operations, business law, strategy, and cost accounting courses. Students can take graduate-level electives this term to enrich their perspectives on using business in society. They integrate what they’ve learned by participating in the Management Consulting Studio and Living Business Leadership Experience. 

This programme combines a comprehensive business curriculum encompassing accounting, marketing, operations, and strategy, hands-on learning, and a global study opportunity for a holistic educational experience. For instance, the MiM programme’s Business+Impact challenge highlights a hands-on approach, where students collaborate in teams to provide innovative solutions for real-world challenges faced by Fortune 500 companies or community organisations.

In 2022, 100 percent of MiM graduates received a job offer from organisations such as Accenture, Amazon, IBM,  Deloitte, KPMG, Morgan Stanley, and more within six months. 

8) Duke Fuqua School of Business, US

The Duke Fuqua School of Business offers a 10-month Master of Management Studies (MMS) degree programme for students with limited prior career experience, covering 15 business courses (43 credit units) taught over five terms. The school has two management offerings: the MMS: Foundations of Business (FOB) programme (on the US Campus) and the MMS: Duke Kunshan University (DKU) programme (in China). Both programmes deliver a well-rounded business curriculum, encompassing essential areas like accounting, finance, economics, marketing, strategy, operations, management, and decision science. Beyond establishing a robust foundation, students hone professional skills, refining analytical, critical thinking, communication, and leadership abilities. 

MMS: Foundations of Business (FOB) programme offers the Fuqua Client Consulting Practicum, where students apply academic theory and develop their business skills to tackle real-world challenges US-based businesses encounter. This intensive, six-week engagement allows students to gain hands-on experience. Additionally, you can engage in experiential learning through industry conferences, corporate visits, and guest speakers like Tim Cook, Apple’s CEO. With a STEM designation, this programme allows international students to gain up to 36 months of work experience in the US. 

The MMS: DKU programme, on the other hand, offers an immersive experience in China. It is conducted in English and does not require Mandarin proficiency. It begins at the U.S. campus and continues at the Duke Kunshan University campus in China.

Both programmes ensure strong career prospects, with 98 percent of 2022 MMA graduates finding jobs within six months. Duke Fuqua graduates are highly sought after by prestigious companies like General Motors, Google, IBM, Microsoft, Accenture, Deloitte, Ernst & Young, McKinsey, Bridgewater Associates, and Goldman Sachs.

University	Location	Duration of MiM Programme	Tuition	Percentage of International Students
HEC	Paris, France	18 Months	€ 53,200	40%
University of St. Gallen	Switzerland	18 Months	CHF 3,329 per semester	Not available
London Business School	UK	12-16 Months	£47,500	61%
ESCP Business School	Paris, France	2 Years	€25,800	38%
ESSEC Business School	Cergy, France	1-2 Years	€39,000	41%
Kellogg School of Management	IL, US	10 Months	$64,842	Not Available
Michigan Ross	MI, US	10 Months	$58,615	12%
Duke Fuqua School of Business	NC, US	10 Months	$62,200	43%

What are the application requirements for a Master’s in Management

Application components for Master in Management (MiM) programmes align with the standard expectations of graduate schools worldwide. These typically include:

1) Transcripts:  

To apply for a MiM, you must provide transcripts for all your undergraduate courses. You may also need to submit transcripts for any graduate-level courses you have completed. Typically, the minimum GPA requirement for admission is around XX or higher, although this can vary depending on the programme. 

2) Resume: 

A resume is a concise document that outlines your academic background, work experience, skills, and extracurricular activities. Given that MiM programmes are tailored for recent graduates, showcasing initiatives, proactivity, and leadership roles in clubs or community engagements is crucial. These elements demonstrate the candidate’s potential for success in the management field.

3) Letters of Recommendation:

As an applicant, you must typically submit one or two letters, though three may be requested occasionally. These letters should ideally come from professors or employers who can provide detailed insights into your abilities, character, and suitability for a management programme. At least one academic recommendation is usually required, emphasising your academic prowess and potential.

4) Statement of Purpose or Personal Statement: 

A Statement of Purpose or Personal Statement allows you to articulate your motivations for pursuing a MiM, outline your career aspirations, and explain how the programme aligns with your goals. It provides an opportunity to showcase your personal experiences, achievements, and the unique qualities you bring to the programme.

5) Subjective questions within the application form: 

These questions often probe deeper into your experiences, values, and reasons for choosing the specific programme. They may ask about your leadership experiences, challenges you’ve overcome, and other personal reflections that give a more complete picture. 

6) Interview or video essay: 

Some programmes may require an interview or a video essay as part of the application process. These components allow you to convey your personality, communication skills, and enthusiasm for the programme directly to the admissions committee.

7) Standardised tests: 

While MBA programmes have no inherent bias regarding standardised tests, MiM programmes, particularly those offered outside the US, such as in the UK and Europe, often slightly prefer the GMAT. This preference underscores the importance of quantitative and analytical skills in management education. The average GMAT score is typically around 740-680 on the regular GMAT edition. 

Admissions officers typically look for candidates who demonstrate a clear alignment with the management field. This alignment can be showcased through various aspects of the application, including leadership roles, proactive initiatives, and community engagement.

What are the opportunities for students pursuing a Master’s in Management

A Master in Management degree opens up diverse career opportunities in consulting, finance, technology, and general management roles. The Graduate Management Admission Council’s (GMAC) 2023 Corporate Recruiters’ Survey reveals a median salary of $85,000 for MiM graduates. They outperform other business master’s candidates globally with an impressive hiring rate of 78 percent. MiM graduates witness remarkable returns on investment (ROI). According to Financial Times data, a MiM degree from HEC Paris can boost a graduate’s average earnings by 81 percent compared to their pre-MiM salary. A MiM from London Business School can yield a remarkable 61 percent increase. A few career options include

Career options for MiM graduates	Average Annual Salary
Management analyst	$95,260
Human Resources Manager	$99,612
Management Consultant	$1,48,394
Social Media Manager	$64,088
Investment Manager	$2,37,328
Change Management Engineer	$99,134
Capital Markets Analyst	$98,238

The Master in Management (MiM) degree is an excellent starting point, offering comprehensive management education to prepare you for diverse roles in the dynamic business landscape. It supplements your bachelor’s degree with the business acumen needed to gain a competitive edge. If you need help applying for a MiM degree or are wondering whether you should pursue an MBA instead, please get in touch. Meanwhile, you may read our blogs on mistakes to avoid in your postgraduate applications and why Europe is an excellent study destination.